an in-depth STEP-BY-STEP GUIDE TO THE LEAD PLAINTIFF PROCESS IN THE EXPENSIFY CLASS ACTION LAWSUIT

If you suffered losses in Expensify stock, contact Expensify stock loss lawyer Timothy L. Miles about a Expensify class action lawsuit

INTRODUCTION TO THE EXPENSIFY CLASS ACTION LAWSUIT

Call Expensify stock loss lawyer Timothy L. Miles about an Expensify class action lawsuit

The Expensify class action lawsuit seeks to represent purchasers or acquirers of Expensify, Inc. (NASDAQ: EXFY) common stock pursuant and/or traceable to the offering documents issued in connection with Expensify’s initial public offering conducted on or about November 11, 2021 (the “IPO”).  Captioned Wilhite v. Expensify, Inc., No. 23-cv-01784 (D. Or.), the Expensify class action lawsuit charges Expensify and certain of its top executive officers and directors with violations of theSecurities Act of 1933.
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If you suffered losses in Expensify stock and wish to serve as lead plaintiff in the Expensify class action lawsuit, or just have general questions about your rights as a shareholder, please contact Expensify Stock Loss Lawyer Timothy L. Miles at no charge by calling 855/846-6529 or via e-mail at [email protected] or by submitting a contact form. Lead plaintiff motions for the Expensify class action lawsuit must be filed with the court no later than January 29, 2024.

In this in-depth step-by-step article, we will discuss everything an Expensify shareholder needs to know about the lead plaintiff process in the Expensify class action lawsuit.

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WHAT IS THE LEAD PLAINTIFF DEADLINE IN THE EXPENSIFY CLASS ACTION LAWSUIT?

​​​When a securities class action is filed such as the Expensify class action lawsuit, the person who files the first complaint is required to publish a notice announcing the filing. Anyone who wants to be lead plaintiff on behalf of the class in the Expensify class action lawsuit must thereafter file a motion to be appointed as lead plaintiff(s) no later than 60 days after the notice was published. 

WHAT IS THE LEAD PLAINTIFF PROCESS IN THE EXPENSIFY CLASS ACTION LAWSUIT?

​The Private Securities Litigation Reform Act of 1995 permits any investor who purchased and suffered losses in Expensify stock to seek appointment as lead plaintiff in the Expensify class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. ​

​A lead plaintiff acts on behalf of all other class members in directing the class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the securities class action lawsuit.  An investor’s ability to share in any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff. If you suffered losses in Expensify​​ stock and have further questions, contact Expensify stock loss Lawyer Timothy L. Miles today who will fight to recover your damages in an Expensify class action lawsuit if you suffered losses in Expensify​​ stock.

CAN A NON-U.S. INVESTOR SERVE AS LEAD PLAINTIFF IN THE EXPENSIFY CLASS ACTION LAWSUIT?

​​Yes, courts in the U.S. have consistently recognized that non-U.S. investors, many of whom have substantial holdings, are adequate lead plaintiffs and have the same right to move for lead plaintiffs as U.S. investors.  Thus, if a non-U.S. investor suffered losses in Expensify​​ stock, they may move the Court to be appointed lead plaintiff in the Expensify class action lawsuit. 

WHAT ARE THE BENEFITS OF SERVING AS LEAD PLAINTIFF IN THE EXPENSIFY CLASS ACTION LAWSUIT?

Serving as a Lead Plaintiff in the Expensify class action lawsuit has several advantages and important benefits including:

• A Lead Plaintiff is able to negotiate more competitive attorney fees and reduce other litigation costs by actively monitoring the class counsel.
• Lead Plaintiff has the benefit of being able to manage the litigation primarily by overseeing and monitoring the progress of the action and the efforts of counsel, and being able to review and comment on important filings and other documents pertaining to the prosecution of the action.
• There is no financial risk in serving as a Lead Plaintiff because Lead Counsel advances all costs and expenses incurred in the prosecution of the case and will be reimbursed only if there is a successful settlement or judgment recovery on behalf of the class.
• Lead Plaintiff has the benefit of being involved and active in all negotiations relating to any settlement.
• Lead Plaintiffs that continue owning the stock of the defendant will enjoy the long-term benefits from governance reform resulting from the litigation. 

Thus, there are numerous benefits and other advantages to serving as lead plaintiff in an Expensify class action lawsuit​​ if you suffered significant losses in Expensify​​ stock. ​

WHAT RESPONSIBILITIES WILL THE LEAD PLAINTIFF HAVE IN THE EXPENSIFY CLASS ACTION LAWSUIT?

​​A Lead Plaintiff owes a fiduciary duty to the class, and therefore, must act in the best interest of the class in the Expensify class action lawsuit​​.  Some of the responsibilities of the Lead Plaintiff in the Expensify class action lawsuit​​ include:

• Selecting, monitoring, and overseeing Lead Counsel.
• Reviewing and commenting on court filings on behalf of the class.
• Discussing litigation strategies with the Lead Counsel.
• Attending depositions (if necessary) and giving a deposition.
• Attending hearings (if necessary).
• Participating in mediation and the trial (if necessary).
• Provide input on any decision concerning the settlement of the securities class action.

CAN I BE APPOINTED LEAD PLAINTIFF IN THE EXPENSIFY LAWSUIT IF I PURCHASED SHARES OUTSIDE OF THE CLASS PERIOD?

No.  Even if you suffered losses in Expensify stock, if you purchased securities outside of the Class period, you will not be able to participate in the Expensify lawsuit.​

WILL THE LEAD PLAINTIFFS GET MORE MONEY THAN CLASS MEMBERS IF THE EXPENSIFY LAWSUIT SETTLES?

​No, but they may be entitled to recover their reasonable expenses incurred with are directly related to representing the class in the Expensify lawsuit. Under the Private Securities Litigation Reform Act of 1995, a Lead Plaintiff is only entitled to his or her pro rata share of any recovery and does not receive any additional money for serving as a representative party on behalf of the class.  However, a court, in its discretion, may approve an award of “reasonable costs and expenses (including lost wages)” to a Lead Plaintiff that directly relates to the representation of the class in the Expensify lawsuit on behalf of investors who suffered losses in Expensify stock. 

CAN I BE LEAD PLAINTIFF IN THE EXPENSIFY LAWSUIT IF I AM LEAD PLAINTIFF IN ANOTHER CASE?

​​Yes, unless you have been a lead plaintiff in more than five securities class actions during any three-year period which is expressly prohibited by the securities laws. Otherwise, if you suffered losses in Expensify stock, you may move to be appointed lead plaintiff in the Expensify lawsuit.

CAN THE COURT APPOINT MORE THAN ONE LEAD PLAINTIFF IN THE EXPENSIFY CLASS ACTION LAWSUIT?

​​Yes, at its discretion the Court may appoint a person, entity, or group of persons and/or entities as Lead Plaintiffs to oversee the Expensify class action lawsuit.

HOW WAS THE CLASS PERIOD DETERMINED IN THE EXPENSIFY LAWSUIT?

In a securities fraud class action, the class period refers to a period of time in which it is alleged the price of the company’s stock was artificially inflated due to false and misleading statements made by company executives.  The class period starts when the company makes an untrue statement of material fact about the company or fails to disclose a material fact necessary to render other statements not misleading.  The class period ends when the truth is revealed to the investing public through a corrective disclosure.  
 
To be a part of the class in the Expensify lawsuit, you must have suffered losses in Expensify stock by purchasing during the class period when it is alleged the price of the stock was artificially inflated to be included in the Expensify lawsuit.  ​

CAN I SELL MY STOCK AND STILL BE A MEMBER OF THE CLASS IN THE EXPENSIFY CLASS ACTION LAWSUIT?

​​Yes. There is no requirement for you to retain ownership of the stock after the class period has expired to participate in the Expensify class action lawsuit.

HOW CAN A EXPENSIFY STOCK LOSS LAWYER HELP ME IF I SUFFERED LOSSES IN EXPENSIFY STOCK?

An Expensify stock loss Lawyer is well-versed in the complex laws that govern the securities industry and litigation and focuses on representing individual investors or funds who have been the victims of fraud or who have disputes with investment professionals such as the Expensify lawsuit. Ordinary individual investors, including civil servants, teachers, nurses, and retirees, may need a securities lawyer. In most cases, they have lost money due to mistakes, incompetence, or fraud by an investment professional.

While FINRA, the SEC, and state securities regulators serve a vital role in protecting investors, they simply have too many individuals, firms, and market transactions to monitor to discover every act of fraud or negligence. Individual investors should consult with a securities lawyer if they have lost money due to fraud or stockbroker misconduct. 

Look for a securities lawyer with experience, high ethical standards, verifiable credentials, and a trustworthy reputation among his peers and the judiciary, as well as testimonials from previous clients and awards and recognitions​​.

One name that immediately pops up is nationally known and widely respected Nashville lawyer Timothy L. Miles, who has valuable experience and has received numerous awards, mostly due to his high ethical standards, and hard work ethic, including most recently being named a Top 25 Class action lawyer by the National Trial Lawyers Association, and has maintained an AV rating from Martindale-Hubble since 2014, was named a 2023 Top Rated Litigator and 2023 Top Rated Lawyer by Martindale-Hubble and ALM, and was recently named a 2023 Elite Lawyer of the South by Martindale-Hubble for the fifth year in a row, and was a recipient of Avvo Client’s Choice Award in 2021, in 2022 was featured in the Top 100 Lawyers Magazine and received the Lifetime Achievement Award by Premier Lawyers of America (2019–2021).

​This will most likely be the only call you need to make. (855) 846–6529 or [email protected]. ​

HOW MUCH DOES IT COST TO HIRE A EXPENSIFY STOCK LOSS LAWYER IF I SUFFERED LOSSES IN EXPENSIFY STOCK?

Nothing. ​If you suffered losses in Expensify and are a member of the class, it does not cost anything to hire an Expensify stock loss lawyer.  Our firm litigates securities fraud cases on a contingent fee basis, so plaintiffs and the class do not pay attorneys’ fees or court costs unless there is a recovery, and the attorney fees and costs are awarded by the court as a percentage of the total recovery for the class.  So, contact an Expensify stock loss lawyer today if you suffered losses in Expensify ​stock about an Expensify class action lawsuit.

CONTACT AN EXPENSIFY STOCK LOSS LAWYER TODAY IF YOU SUFFERED LOSSES IN EXPENSIFY STOCK ABOUT A EXPENSIFY CLASS ACTION LAWSUIT

​​If you suffered losses in Expensify stock, contact Expensify stock loss lawyer Timothy L. Miles today for a free case evaluation about an Expensify class action lawsuit. Call today and see what an Expensify stock loss lawyer could do for you if you suffered losses in Expensify​ ​stock.

Expensify stock loss lawyer Timothy L. Miles

Nashville attorney Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles has dedicated his career to representing shareholders, employees, and consumers in complex class-action litigation. Whether serving as lead, co-lead, or liaison counsel, Mr. Miles has helped recover hundreds of millions of dollars for defrauded investors, shaped precedent-setting decisions, and delivered real corporate governance reforms. Judges and peers have repeatedly recognized Mr. Miles’ relentless advocacy for the underdog, as well as his unbendable ethical standards. Mr. Miles was recently selected by Martindale-Hubbell® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator. and a 2022 Elite Lawyer of the South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association,​Class Action:  Class Action: Top National Trial Lawyers, National Trial Lawyers Association (2023), a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019); a Top Rated Litigator by Martindale-Hubbell® and ALM  (2019-2022); America’s Most Honored Lawyers 2020 – Top 1% by America’s Most Honored (2020-2022).  Mr. Miles has published over sixty articles on various issues of the law, including class actions, whistleblower cases, products liability, civil procedure, derivative actions, corporate takeover litigation, corporate formation, mass torts, dangerous drugs, and more.  Please visit our website or call for free anytime.

CONTACT                                                      
The Law Offices of Timothy L. Miles
Tapestry at Brentwood Town Center
​300 Centerview Dr., #247
Brentwood, TN 37027
​​Phone: (855) 846-6529